Medicare

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Original Medicare (Part A and Part B) covers most, but not all, health care costs you may face. Medicare Supplement Insurance, also called "Medigap", helps fill the "gaps" in coverage to mitigate costs and offers Medicare beneficiaries peace of mind.  

Medicare Supplement plans work with Medicare Part A, and Part B.  Medicare Supplement plans are priced and sold by private insurance companies. Still, the benefits of the plans are standardized across the nation and structured exactly the same despite the company. Because of this, Medigap policyholders can see any doctor who accepts Medicare patients — including those out of state. Medigap coverage goes with you anywhere you travel in the United States and is guaranteed for life if premiums are paid on time. Some Medigap plans also include international foreign travel.

People generally have two options for core Medicare benefits: Original Medicare (often supplemented with a Medicare Supplement plan) or Medicare Advantage. Medicare Advantage plans, also called Medicare Part C or "MA plans," are considered all-in-one healthcare insurance solutions. 

Medicare Advantage plans, offered by private insurance companies, must cover all basic services that Part A and B cover (except hospice care, which is still covered by Original Medicare). The insurance company dictates what the plan covers beyond this point and all out-of-pocket costs. 

Like Medicare Supplement, Advantage plans assist in covering out-of-pocket expenses that beneficiaries are expected to pay for their health care. But unlike Medicare Supplement, Advantage plan benefits can extend beyond services covered by Medicare. Specific plan benefits and networks can (and usually do) change from year to year. To give you an annual opportunity to assess your plan. Medicare Annual Enrollment Period (AEP) is when you can change coverage, such as enrolling in a new Advantage plan or applying for Medicare Supplement coverage.

Coverage for additional services outside the required federal standard can vary from company to company. For instance, plans can choose not to cover the costs of services that aren’t considered “medically necessary” under Medicare. If this is the case, you may have to pay all of the costs of the service or request to see if the service will be covered in advance.

The value of a Medicare Advantage plan is that it can include many benefits that Original Medicare does not. Most Advantage plans include prescription drug coverage (typically referred to as MA-PD). If you want prescription drug benefits, you should enroll in an MA-PD plan. Some plans may include dental, vision, and hearing insurance, over-the-counter benefits, or wellness programs.

Original Medicare does not cover or subsidize the cost of prescription drugs. Medicare Part D, also called Prescription Drug Plans or "PDP", is a Medicare program designed to help seniors finance the rising costs of prescription drugs and premiums.

Medicare Part D has various drug plans — each of which covers its own list of drugs (called a formulary). The cost of a drug plan varies based on which types of drugs you need and whether you use a pharmacy in your plan’s network.

 Did you know you might qualify for extra help with your prescriptions? Click on the link below to see if you qualify. We can also help you do this in our office. 

https://secure.ssa.gov/i1020/Ee001View.action

Medicare Savings Programs

Get help from your state paying your 

Medicare Part A (Hospital Insurance) and Part B (Medical Insurance) premiums through a Medicare Savings Program. If you qualify, Medicare Savings Programs might also pay your Part A and Part B deductibles, coinsurance, and copayments.

You’ll apply for Medicare Savings Programs through your state. When you apply, your state determines which program(s) you qualify for. Even if you don’t think you qualify, you should still apply.

We can help you with this also.

https://www.medicare.gov/basics/costs/help/medicare-savings-programs

 Did you know you might qualify for extra help with your prescriptions? Click on the link below to see if you qualify. We can also help you do this in our office. 

https://secure.ssa.gov/i1020/Ee001View.action